2012 Annual Report - Ixe

Informe Anual 2010
Annual Report 2012
ranking of the 500 bank brands with the greatest value in the
world, and in 2012 Banorte ranked 180th with 608 million dollars
and an A+ rating.
Banorte ranked number 6 in terms of the best places to work
in Mexico according to a Great Place To Work: “Companies
with over 5.000 employees” (number 10 in 2010), reflecting the
labor culture the Institution has developed by integrating the
best of each of the companies it has absorbed.
For a third time and for the second year in a row, the Ministry
of the Economy awarded Banorte the “SME 2012 Prize”, for
being the most active bank in the Small and Medium-Sized
Enterprise segment in Mexico through government programs.
Banorte funding for SMEs through the program “Programa
de Garantías México Emprende” (Mexican Business Loan
Guarantees Program) amounted to Ps. 24 billion. The Ministry
took into account Banorte’s active participation in sectorial
programs such as “Construction Industry Support” and “New
Entrepreneurs” as well as support for tourism and employment
where Banorte applied very competitive interest rates besides
playing a fundamental part in the implementation of emerging
programs to support the economic revival of companies
impacted by natural disasters.
In 2012, the Board of Directors approved cash dividends
amounting to Ps. 0.73 per share payable in four installments
during 2012 and 2013. This payment is equivalent to 20% of
the recurring net income of 2011 in accordance with the new
dividends policy approved in 2011. The Financial Group’s
market capitalization amounted to almost Ps. 200 billion at the
close of 2012, or 97% more than in 2011. Our financial solidity
was reflected in the ratification of our investment grade credit
ratings from Fitch, Moody’s, Standard and Poor’s and HR Ratings.
Finally, on behalf of all of us who work for Banorte-Ixe I would
like to express my deep gratitude to our more than 22 million
customers for their trust, which allows us to manage Ps. 1.5 billion
in assets. Although we are larger bank, we continue to work to
become an institution that is focused on meeting the individual
needs of all of our customers, as reflected in the recent strategic
venture with IBM to implement a new customer-focused banking
model to develop and offer customized bank products and
services. I would also like to thank our almost 26,000 co-workers
for their effort, dedication and commitment, as well as our
shareholders, Board members for their invaluable support in
consolidating Banorte-Ixe as The Strong Bank of Mexico.
Alejandro Valenzuela
CEO of Grupo Financiero Banorte
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